The head of US Treasury believes that sanctions significantly harm Russia

1Jack Lew said that the recommendation of the US authorities to the banks not to buy Russian Eurobonds in fact, too, was part of a sanctions policy.

WASHINGTON. US Treasury Secretary Jack Lew said that Western sanctions significantly harm Russia. He confirmed this, speaking at the budget hearings in the US Congress. From his statements, in particular, it indicated that the recommendation of the US government to banks not to buy Russian Eurobonds in fact, too, was part of a sanctions policy.

The EU has advised banks not to buy Russian bonds

2Such a recommendation is given in support of sanctions against Moscow.

The EU has advised banks not to buy Russian bonds.

Such a recommendation is given in support of sanctions against Moscow, writes The Financial Times, citing sources.

Despite the fact that the restrictive measures that entered the EU, does not directly prohibit the purchase securities in Brussels believe that the proceeds may be used for other purposes.

Budget 2016: economic fitness regime in the UK

The trouble with self-imposed targets is that if you break them, no one cares quite as much as you. A bit of bad weather and you don’t go out for that run. One rotten day and your low-carb regime is ditched.

As with diets, so with Budgets. George Osborne’s economic policy is guided by self-imposed targets which add up to “economic sanity”. One is the much-trumpeted fiscal charter. The chancellor has pledged and legislated to return the Budget to surplus within four years – in other words, to spend less than his income – and keep it in surplus unless economic growth drops below 1%.

Zara sees profits jump as sales soar

1Annual profits at Inditex, the owner of Zara and Bershka, have soared by almost €500m following a 8.5% rise in like-for-like sales.

The world’s biggest clothing retailer reported pre-tax profits of €3.74bn (£2.89bn) for 2015. It opened another 330 stores last year to bring the total to just over 7,000 in 88 markets.

The Spanish company said it would continue to expand its integrated store and online sales strategy globally.

Investors are moving into secondary cities

For luxury housing is not earn

1In the majority of the world’s major centers (London, Paris, Monaco) property premium falls in price. As a result, these objects lose their investment attractiveness. The strongest fall predictably showed Moscow, where, as recognized realtors, the last investment deal was still in 2014.

The past year was marked by a stagnation in the major global markets of premium real estate. According to the study Wealth Report 2016, conducted by an international company Knight Frank, the most expensive city was left Monaco last year, as in 2014, for $ 1 million here, you could buy only 17 square meters. m premium real estate. Hong Kong retained second place. There’s the past two years to $ 1 million, you can buy a 20 “squares.” However, in the closing three London house prices have already started to creep down. If in 2014 there is a $ 1 million could buy 21 square meters. m, then in 2014 – already 22 sq. m.

Obama extended for one year anti-Russian sanctions

1United States President Barack Obama signed a decree to extend for another year the sanctions against Russia. This is stated in a document published on Wednesday, March 2, at the White House Web site. According to the report, existing measures should remain in force after March 6, 2016, as Moscow’s actions “continue to represent the United States unusual and extraordinary threat to the national security and foreign policy.” Thus, the sanctions against Russia extended until March 6, 2017.

Repatriation continues, Germany has returned 366 tons of gold from New York and Paris

1Germany’s Bundesbank released a new report on the program of repatriation of gold bullion on the results of 2015 Germany, apparently, is still able to achieve their own, Frankfurt has now become the city where the largest reserves of the Bundesbank. During the last year the Central Bank returned to Frankfurt Germany 210 tonnes of gold, of which about 110 tonnes were transported from Paris and about 100 – in New York.

Recall that in 2013 the program began to return 300 tons of gold from the vaults of the Federal Reserve Bank of New York and 374 tons of gold from the Bank of France warehouse in Frankfurt. It is planned to complete this operation by 2020. This in itself is unusual program. All 674 tons of gold could carry a few weeks, or even less if you want it, so it is obvious that the Bundesbank are some limitations that we do not know.